Macquarie Sells Stake in LG CNS
Private equity firm Macquarie Asset Management has sold approximately 7% of its stake in LG CNS Co., the IT services subsidiary of South Korea’s LG Group, through a block sale valued at $310 million with a 9% discount.
Approtium Hydrogen Producer Sale
Macquarie has initiated the sale of Approtium, South Korea’s largest commercial hydrogen producer, anticipating a transaction worth over 1 trillion won ($770 million), according to investment banking sources.
Hotel Sale in Seoul
Investment banking sources report that Macquarie is set to sell a four-star hotel, Four Points by Sheraton Josun Seoul Station, for about 170 billion won ($118.7 million) to KB Asset Management, a South Korean firm.
Sale of DIG Airgas Stake
Macquarie Asset Management has begun the process of selling its entire stake in DIG Airgas Co., South Korea’s third-largest industrial gas producer, in what is expected to become the largest buyout deal in the country.
Data Center Purchase by Macquarie Korea Infrastructure Fund
Macquarie Korea Infrastructure Fund (MKIF) signed an agreement to acquire a 40-megawatt data center from IGIS Asset Management Co., based in Seoul, for 734 billion won ($538 million).
“Macquarie is moving to appoint...” (investment banking sources)
Summary: Macquarie Asset Management is actively divesting stakes in major South Korean assets, including LG CNS, Approtium, a hotel, and DIG Airgas, while MKIF expands its data center portfolio.